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KP Chair to host forum on rough diamond alongside Plenary Session
Participants from 81 countries, as well as industry players are expected to attend
By: Diamond World News Service
Nov 10 2016 8:49AM
Reference: 13605  

The UAE Kimberley Process Chair (KP Chair), Ahmed Bin Sulayem, will host a one-day ‘KP Chair Special Forum’ on rough diamond, alongside the upcoming Plenary Session. The Plenary is slated between 13 and 17 November 2016.

During the Forum which is to take place at The Westin Dubai, Al Habtoor City, on 13th of November. It will be attended by participants from 81 countries, as well as industry players from across the supply chain.

This is third forum of its kind hosted by the UAE KP Chair in line with his focus on the diamond valuation initiative towards the beneficiation of Africa. It will be built on the discussions from the previous workshops with the intention to reach consensus around the proposed list of criteria for rough diamond valuation, an issue that has been deemed complex, but vital to address, by governments and industry players alike. The previous two workshops hosted by the UAE KP Chair looked into leveraging the expertise and knowledge of industry players from across the diamond pipeline to establish best practices for rough diamond valuation.

During the 2nd KP Chair Special Forum on rough diamond valuation, a general consensus emerged that reverse engineering could be an essential tool for proper rough diamond valuation if and when accompanied by a unanimously agreed upon methodology and nomenclature of formatted sorting of rough parcels by trained valuators. The third forum aims at moving these negotiations forward with an aim to reach consensus on the set of generic criteria including a methodology based on reverse engineering as well as other systems and processes.

Bin Sulayem said: “Rough diamond valuation is a complex process and subject to volatility and discrepancy between the various models applied across the world. We are fortunate to have the diamond industry’s best minds visiting Dubai for the Plenary Session to build upon our accomplishments from the past workshops and to move forward on the valuation discussion towards an actionable and standardized set of valuation criteria.”

“As the UAE KP Chair, I would like to highlight the importance of the upcoming forum for the diamond industry as a whole. We made important strides in the past meetings with delegates agreeing on a preliminary set of criteria for diamond valuation and there is no doubt in our minds that the 3rd KP Special Forum – the last in the series - will be critical to the success of this evolving discussion. The KP community has a great responsibility to ensure we reach a consensus on this set of criteria as undervalued diamonds coming from Africa affect the livelihood of all people in African producing countries. We are confident that ensuring greater conformity will enable African nations to better manage their mineral wealth and receive their fair share from diamond production”, Bin Sulayem added.

The 3rd Special Forum will include two panels and will be moderated by Tim Dabson, Director - Tim Dabson Consulting Ltd. and Peter Meeus, Special Advisor - Diamonds, DMCC.

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